Slider Archives - Page 369 of 454 - Pension Policy International

23JulJuly 23, 2018

Migration helps balance our ageing population – we don’t need a moratorium

Australia’s population is set to reach 25 million in the coming weeks. This is much earlier than expected. Eighteen years ago, projections estimated Australia’s population wouldn’t get to 25 million until 2041. Western Australian Liberal Senator Dean Smith last week proposed a moratorium on immigration to give Australia some time to “breathe” and take stock. Claiming concerns over planning and infrastructure failing to meet population needs, Smith signalled Australia was unprepared, having relied on inaccurate population projections. Immigration is often targeted...

July 23, 2018

News, SliderAustralia

20JulJuly 20, 2018

When Aging and Automation Collide, Which Countries Lose?

Today’s workforces are facing two unprecedented and far-reaching trends: widespread societal aging and the automation of work by intelligent technologies. Increased longevity and declining fertility rates around the world are creating lasting shifts in the age compositions of workforces globally. Concurrently, emerging technologies are displacing workers and transforming the very landscape of work. The confluence of these two trends of aging and automation therefore raises a crucial question: What effect will increased workplace automation have on populations of older workers?...

July 20, 2018

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20JulJuly 20, 2018

UK. A steep challenge ahead – what the latest fiscal sustainability report means for the public spending plans

Looking at how assets and liabilities on the public sector’s balance sheet are expected to change over time provides an important picture of the direction of travel when it comes to government activities. The Office for Budget Responsibility’s (OBR) latest report sounds alarm bells for mounting spending challenges ahead. The Fiscal Sustainability Report, released by the OBR on Tuesday, sets out the long-term sustainability of the level of public debt. This is a key measure of the government's fiscal policies,...

July 20, 2018

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19JulJuly 19, 2018

Kenya. MPs demand evidence of UK colonial pensioners’ existence

The National Treasury has two weeks to ascertain the actual existence of British colonial pensioners that Kenya continues to pay millions of shillings 55 years after Independence. The National Assembly’s Public Accounts Committee (PAC) issued the directive after it summoned Director of Pensions Shem Nyakutu for a meeting to explain why Nairobi continues to pay people who left Kenya in 1963. “These were colonial officers, who were retrenched through Africanisation. The Government of Kenya undertook to pay their pension through UK’s...

July 19, 2018

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19JulJuly 19, 2018

Russia. Pension reform: the Kremlin is saved from the riots of 2022

The chamber has studied the bill to raise the retirement age, and came to the conclusion that he needs improvement. This is stated in the opinion of the Chamber signed by the head of Department Alexey Kudrin. So, the chamber did not find in the draft law “calculations that determine the relationship between raising the retirement age and create the conditions for annual indexation of pensions above the rate of inflation”. Read More: MICE Times

July 19, 2018

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19JulJuly 19, 2018

Venezuela senior citizens block streets demanding pension checks

Perched on plastic lawn chairs and leaning on canes, scores of retirees protested Wednesday, July 18, to demand payment of their retirement benefits in crisis-hit Venezuela. About 200 senior citizens blocked traffic on Urdaneta Avenue, a stone's throw from the presidential palace. "They are not paying people's whole pension. We are just getting two million" bolivars, worth 60 US cents at black market rates," said Basilio Octo, 68. Read More: Rappler

July 19, 2018

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18JulJuly 18, 2018

Greece Sees Highest Pension Spend in EU

Greece spends the highest percentage of its GDP on pensions compared to other European Union member states, Eurostat says. Despite the fact that pensions have been slashed dramatically during the economic crisis, the Greek state continues to give a large part of its GDP to pensioners, the highest percentage than any other EU nation. According to the European statistical authority, pension expenditure in 2015 amounted to 17.8 percent of GDP, the highest in the EU. The percentage of GDP does not...

July 18, 2018

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18JulJuly 18, 2018

US. Public Pensions Adopt Cost Sharing Mechanisms to Stem Volatility

In spring 2016, Sandy Matheson, the executive director of the Maine Public Employees Retirement System, was panicking. After earning 2 percent the previous fiscal year, record low bond yields and global stock market turmoil were dragging the pension’s returns even lower -- and further away from its 6.9 percent assumed annual return. She modeled government pension payments under a scenario where investments returned 4 percent a year for four years and then 6.9 percent thereafter. The result: government contributions would increase...

July 18, 2018

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18JulJuly 18, 2018

UK. CMA proposes pension investment reforms

Investment consultants advise pension trustees, who oversee companies’ pension schemes, on how to invest their funds. Some pension schemes delegate investment decisions to fiduciary managers. These firms have influence over half of all UK households’ retirement savings and work with pension scheme assets worth at least £1.6 trillion. Good investment management helps ensure people receive the pension they expect upon retirement. In September last year the Competition and Markets Authority (CMA) launched a market investigation into this sector, at the...

July 18, 2018

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17JulJuly 17, 2018

US. How Hidden Costs Can Dent Your Retirement Income

For millions of retirees, hidden costs creep up on them. Just when they thought they were covered by Medicare and Social Security, they get clobbered. While Medicare does pay for the bulk of hospital-related expenses after age 65, there can be thousands of dollars in out-of-pocket healthcare expenses. You have to plan for them. According to a report by the Center for Retirement Research at Boston College, retirees, on average, face $4,300 in annual out-of-pocket healthcare expenses. Those bills can eat...

July 17, 2018

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July 2018